CoinEx Shuts Down Amid Security and Compliance Risks

Crypto exchange CoinEx has announced it is shutting down due to increasing security and compliance risks, its founder and CEO Haipo Yang said. The Hong Kong-based platform will close on December 22, exactly nine years after its launch.

'After much reflection, I have come to accept a hard truth,' Yang wrote in a statement. 'CoinEx did not become one of the industry's leading exchanges, and the security and compliance risks of running a crypto exchange have become increasingly difficult to contain.'

CoinEx is the third significant crypto exchange to wind down in recent months, following the closures of Bitmart and BitMEX.